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Bonus bounty builds at merchant banks
Mint Bangalore
|January 02, 2026
Top investment bankers are likely licking their chops at the prospect of lucrative bonuses, after 2025 delivered record fees on the back of buoyant equity capital markets (ECM) and hectic private-market dealmaking.
Data from the London Stock Exchange Group (LSEG) shows that investment banking fees for 2025 totalled $1.5 billion in India, of which $651.8 million came from equity deals, $391.3 million from M&A deals, $232.5 million from bond deals, and $227 million from loan syndications.
Comparatively, investment banking fees in the previous two years were $1.36 billion (in 2024) and $1.33 billion (2023). In 2024, bonus payouts to investment bankers were an estimated ₹1,000 crore, according to industry experts and headhunters.
This story is from the January 02, 2026 edition of Mint Bangalore.
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